Ahead of a peak year for tourists, Japan's new laws are closing down BnBs and pushing up costs of short-term lets.

The "minpaku" property letting laws came into effect on June 15 with the aim of regulating homeowners looking to make a quick buck from the influx of tourists. The effect of which has been felt overnight.

Across the country AirBnB hosts have axed 80 per cent of the website's listings, according to the Japan Times.

At the beginning of March there were 62,000 properties listed on the website, however, by the June deadline this number had dropped to just 13,800. While the number of listings has crashed, there's no sign of tourism slowing to the country. In fact, record numbers of visitors are predicted ahead of the country's big sporting events.

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Some listings websites have taken the matter into their own hands, removing any listings which cannot provide registration numbers from local authorities.

Those who continue to let out their property have to face tough new regulations, including extensive fire and safety checks. Bed and breakfasts have had to respond by pushing up rents or shutting up shop.

However it is tourists looking for accommodation in Japan who have felt this change the most.

Properties in central wards of Tokyo have upped their lodging rates by a third to an average of 30,000 yen (from $260 to $390) per night.

If unchecked, this new change to the letting economy is likely to cause problems for Japan's growing tourism figures.

Ahead of the Japan Rugby World Cup and 2020 Olympics the country has forecast a peak of 40 million overseas visitors per year.

Japan has been going to extreme lengths to find accommodation for sports fans – such as increasing public lending to the hotel industry and converting infamous 'love-hotels' – however, the rate at which private lodgings are closing is sure to put these plans under pressure.